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Dristell Incorporated had the following activities during the year ( all transactions are for cash unless stated otherwise ) : a . A building with

Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise):
a. A building with a book value of $411,000 was sold for $511,000.
b. Additional common stock was issued for $171,000.
c. Dristell purchased its own common stock as treasury stock at a cost of $80,500.
d. Land was acquired by issuing a 6%,10-year, $761,000 note payable to the seller.
e. A dividend of $51,000 was paid to shareholders.
f. An investment in Fleet Corporations common stock was made for $131,000.
g. New equipment was purchased for $70,500.
h. A $95,500 note payable issued three years ago was paid in full.
i. A loan for $111,000 was made to one of Dristells suppliers. The supplier plans to repay Dristell this amount plus 10% interest within 18 months.

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